Written in Partnership with Amir Bakian
The founders launched the token on the BEP20 standard on the 3rd of November 2021 with a clear vision. The mission is to develop their network protocols that are OMX20 launched on the 3rd of April 2022.
Omax token adopts convenient practices for its users from fiat currencies worldwide, making it simple to use and valuable. OMAX Chain relies on a system of PoS consensus that can support short block time and lower fees. The bonded validator candidates of staking will become validators and produce blocks. The double sign detection and other slashing logic guarantee security, stability, and chain finality. The OMAX Chain also supports EVM-compatible smart contracts and protocols. It is the native and only usable currency in the OMAX ecosystem.
OMAX Consensus Protocol
Omax Token’s consensus protocol is designed to achieve the following objectives based on the design principles:
Standalone Blockchain: The majority of OMAX’s core technical and business functions should be self-contained, so they can continue to work even if a system is down for a short time.
OMAX Compatibility: OMAX has chosen to be compatible with the existing EVM protocol to take benefit of the relatively developed apps and community
Staking Involved Consensus and Governance: Staking-based consensus is more environmentally sustainable and gives community governance more flexibility.
Native Cross-Chain Communication: The OMAX Blockchain will provide native cross-chain communication functionality between the two blockchains.
About OMAX Blockchain
OMAX COIN facilitates the transaction and brings them closer to a broader audience. The use of technology will expedite a financial revolution that will leave everyone more financially connected, empowered, and enabled.
Advertising disclosure: We may receive compensation for some of the links in our stories. Thank you for supporting LA Weekly and our advertisers.